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CNBC TV18

India’s MCX gold futures hit ₹1.41 lakh per 10 grams; silver climbs to ₹2.20 lakh per kg

AI Market Summary
Indian MCX gold and silver surged as renewed geopolitical risk boosted safe-haven demand after Trump reinstated a blockade on Iranian vessels in the Strait of Hormuz, raising concerns over oil supply disruption and inflation. A hawkish Fed message (rate hikes as plausible as cuts) tempered global bullion, but near-term positioning and local demand kept domestic futures elevated. Focus shifts to US inflation data and Middle East developments.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+0.22%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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India’s MCX gold futures for August rose 0.93% to ₹1.41 lakh per 10 grams, while MCX silver futures for July gained 1.35% to ₹2.20 lakh per kg. The advance was driven by a jump in safe-haven buying after Donald Trump said he had reinstated a blockade on Iranian vessels in the Strait of Hormuz, lifting geopolitical risk. Hawkish signals from US Federal Reserve officials weighed on gold, but the near-term shock still pushed domestic precious-metals futures sharply higher.
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